“Official” Blockchain Rules for 2019

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The short statement sets out the official definitions of the government of blockchain regulations. Publicly advertised rationales seem harmful or discreet; however, these official justifications are a marked attempt to reduce rather than develop decentralized technologies. A rough preliminary study of the statements also underscores what can be labeled as generous conflicting logic.

“China will publish official standards on blockchain technology next year, and an official told Xinhua that it will provide“ some guidance to the industry ”on the technology.

Li Ming, director of the Blockchain Research Office of the Ministry of Industry and Information Technology (MIIT), told Xinhua Economic Information Daily that work on the standards has already begun. Li, however, made it clear that although the standards will provide some guidance to blockchain developers, the authorities did not expect the official guidelines to “advance the development of the industry quickly”. Despite efforts to reduce the financial risks associated with cryptocurrencies and initial coin offerings, the Chinese government has sought to show support for the development of blockchains. China was the world’s leading source of blockchain patents in 2017, and a blockchain research center was opened last September by the Chinese Academy of Information and Communication Technologies, a research organization affiliated with MIIT.

The new standards being developed by the Blockchain Research Office will include guidelines for the application of blockchain in terms of business, information security and reliability, Li told Xinhua. Despite the exciting potential around the blockchain, the technology remains in its infancy. Without clear regulations, security issues caused losses of nearly $ 2.9 billion worldwide between 2011 and 2018, according to Baimaohui Security Research Center, which specializes in online security working with Alibaba and Huawei.

In the last two years alone, $ 1.9 trillion has been lost due to blockchain security issues, according to Baimaohui. China’s leading technology companies and banks are demanding blockchain patents and researching how technology can improve services and boost people’s trust in supply chains, the Chinese Ministry of Public Security is looking at how to implement technology in terms of data storage. Earlier this week, data from the China Intellectual Property Office showed that the Ministry of Public Security had filed a patent application for the blockchain system, which would store the variable data securely and transparently in the cloud. This system could be used and shared by police across the country, allowing data to be shared quickly between different agencies. (CGTN) “

To begin with, let’s not forget the distinction between decentralized capabilities and centralized services. A regionally authorized service is regulated by geographically specific legislation. For example, an international fast food chain may, in some European countries, sell alcoholic beverages in stores, which the same operator does not normally allow in North America. This change is possible because the use of the service is localized. Having “official” guidelines for decentralized capabilities would be like imagining access or use of decentralized services in the region or under the same legislation. Maybe not. It is decentralized.

Second, the U.S. Government Accounts Office (GAO) estimates that the 2008 financial crisis was worth $ 12.8 trillion. This also spreads the consequences of subsequent bailouts, unemployment and the suffering of millions of people.

The causes of the 2008 financial crisis were largely due to deregulation, securitization (doubling and double bonding), subprime mortgage sales, and the Federal Reserve’s rates to subprime lenders. In short, the actions taken by the government, banks and the financial industry.

Losing less than $ 3 billion in seven years is a minuscule set of activities. Regardless of political stance, decentralized technologies offer the ability to make individual personal choices independently. There are personal losses incurred as a result of making bad decisions, such as ICO investments. It is also conscious participation, where any person who is immediately in control can invest or enter a certain amount. Compare this ceiling with the unilateral measures that governments and corporations can achieve.

The inclusion of decentralized technology in the operational guidelines of a regional government can only demonstrate redundant double-entry accounting methods. Collectively used by people who cannot be in the hands of a single government, at the same time the same decentralized technological capability must also be found.

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Is blockchain the latest technology revolution?

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The blockchain is like an e-book for storing financial transactions, like a book that contains what goes in and out. Unlike a traditional book, digital is much broader and more secure and has no intermediaries.

In the blockchain, each block has the cryptographic start of the previous block along with the transaction data. Both parties can use it to record transactions securely and permanently. It is managed by a peer-to-peer network and allows digital information to be transmitted securely.

Why is Blockchain the latest technology revolution?

Blockchain technology was originally designed to deal with Bitcoin but has now become a popular debate in the revolution. In the first phase, the technology faced great criticism and rejection, but after a rigorous review, it became more productive, usable, and more secure. Now, it has become a practical way to store data in digital form from time to time.

Let’s look at some of the advantages:

Authenticity – Information is stored in blocks stored in a Blockchain that cannot be controlled by a single person or identity. It simply means that there is little or no chance of failure and technology can be a reliable space for business transactions.

Transparency – Technology experts say that Blockchain technology is completely transparent. As the blocks are recorded and added to them in chronological order, participants can easily track transactions without saving records.

Quality – In the event of an irregularity, the Blockchain system makes it easier for interested parties to investigate any problem, as it can lead the system to its original point. Quality assurance makes it the perfect technology for sectors where origin tracking and other crucial details are needed.

Tampering No. – Because transactions and records are checked each time they are passed from one block to another, there is less or no error. The accuracy of the process protects data manipulation, making the technology easier and more efficient.

Arin – At a time when time is money, Blockchain can play a vital role in enabling faster deals. Because the system does not require a lengthy verification and authorization process, it can be used by different sectors to close agreements quickly.

Cost savings – In the end, of course, it’s not the minimum, Blockchain is a cost-effective technology that doesn’t involve any third parties. It makes it the perfect system for starters and established organizations.

Well! The time has come to understand technology and its benefits before applying it to any business …

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Online Political Election Voting Based on Blockchain System Technology

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We hear about Blockchain and Bitcoin every day; however, it should be noted that Blockchain is beyond Bitcoin and cryptocurrency. It is a platform that is being used to conduct economic transactions in the most corrupt way. In fact, this technology can be used virtually not only for economic transactions, but also for anything worthwhile. Blockchain is being used in the pharmaceutical industry, the fashion and accessories industry, the food safety industry, the airline industry and many others.

In a world where scientists have reached the point where flying cars are coming, why is one of the key systems that make up a country’s government still unsafe and interchangeable? With the advancement of technology, everything has become much more transparent and convenient. So why not use this technology to make elections easy and fair? Voting in most countries is a right for every adult. So why doesn’t the entire adult population of a country go to the polls on election day? Maybe it’s because the voting center is too far away. People need to be put on huge lines to cast a single vote. Some believe that the vote is not valid because of the unfair election results.

The solution to this huge problem has finally arrived. A platform that allows the perfect combination of technology and politics in a single blend. This has led to the Blockchain Voting. If this technology can be used for so many other purposes, why not use it to achieve the most important function of voting? Blockchain voting online voting platform a safe, hassle-free, reliable and fast method with the sole purpose of voting for elections. Blockchain voting can completely change the way you vote. He will leave no doubt or question in the mind of the voter.

In the age and age of technology, there are certain things that work best from the old ways. However, voting is not one of those things. Voting is the process by which the citizens of a country choose themselves. This process must be very safe, correct, and completely accurate; all of which are characteristics of the block chain. Blockchain voting is immutable, transparent, and cannot be hacked to change results. Blockchain voting is an effective way to hold elections. This will ensure that voters do not cheat and repeat votes to get fair elections. Blockchain Voting is a necessity for today’s democratic and adult population because they believe it can bring about change in this world.

The agents involved in the Blockchain Voting would be like the agents in the usual method of voting. This revolutionary change can encourage a lot of people to vote. Anyone with an internet connection and an adult has the right to vote in the Blockchain Voting process. It is very easy to use this technology from a voter’s perspective.

Anyone with phone and Internet access will easily understand the specifications of the platform. Citizens who are voting don’t have to wait in long queues and don’t have to travel a lot to go to the polls. With a fast and trouble-free voting method, more and more people will be able to participate in the voting process and become part of a more democratic world. This is certainly a cheaper and simpler method of conducting elections. The more governments realize the importance of incorporating this technology into the political environment, the better it will be for nations to have easy and fair elections.

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How to use Blockchain technology for e-commerce

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What is Blockchain technology?

Blockchain is a decentralized digital public book for tracking economic transactions. It is designed to record not only financial transactions, but everything that goes into it. The best feature of a blockchain is that it allows you to publicly view user participation and transactions made on the system.

It also hides a user’s identity through powerful cryptography. Decrypting the cryptographic code requires a long and challenging calculation and therefore becomes the safest way to channel money.

Challenges in the e-commerce sector

Blockchain technology is transforming the e-commerce industry by decentralizing control and cutting the existence of the intermediary from the landscape. But before we explore the potential of Blockchain technology for the e-commerce industry, let’s explore the current challenges facing the e-commerce industry.

  • High costs- One of the main problems for a seller in a traditional e-commerce business model is the involvement of an intermediary, who deducts a good chunk of money from each purchase. The seller must pay a transaction processing fee to complete each transaction.
  • Secure security- Buyer data protection is another key concern in these types of businesses. The system needs to gain the trust of customers and ensure that their personal and financial data is secure. The current state of the e-commerce industry is failing to provide users with perfect security.
  • Time consuming The e-commerce model includes operations such as supply chain, logistics, payment gateways, and so on. To manage all these operations, e-commerce has to deal with this means on a daily basis. This consumes a lot of time to complete the whole process.

How Blockchain will drive the e-commerce industry in the future

Blockchain e-commerce technology is on the rise not only for sellers but also for buyers. The following are some of the challenges that Blockchain may face when entering the e-commerce industry:

  • Cost reduction With Blockchain, the e-commerce industry can rely on Blockchain technology to manage inventory, payment processing, product database and other business activities. This makes it less expensive to hire IT support teams that maintain or maintain the system. Cryptoconferences like Bitcoin, Ripple, etc. will reduce the fees that third parties like banks charge for transactions.
  • Cyber ​​Threats- Despite the use of a secure transaction network, the e-commerce industry runs the risk of losing data and money to customers due to unwanted cyberattacks. Blockchain technology is the perfect solution to solve these challenges. It provides the highest level of security using distributed books for managing e-commerce database management systems.
  • Fast process- Blockchain technology for e-commerce is removing the dependency of intermediaries, employees and third parties from the e-commerce model. It saves a lot of time consumed in the overall process from starting inventory management to delivering orders to the user portal.

Conclusion

These challenges have bothered vendors from the beginning. Thus, integrating Blockchain Technology into the e-commerce sector may be a good idea for the entire system. Here comes the need for Blockchain technology for the e-commerce industry, which is capable of solving all challenges alone.

Many e-commerce companies have already started investing in Blockchain technology to make their business work well. It’s not far off the day when Blockchain technology will penetrate the entire e-commerce industry.

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Introduction to Blockchain Technology for Beginners

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Today, technology is reaching new heights of success at an incredibly fast pace. One of the latest victories in this direction is the evolution of Blockchain technology. New technology has had a huge impact on the financial sector. In fact, Bitcoin (digital currency) was initially developed. But now he finds his application in many other things as well.

Getting here was probably easy. But, is there still no Blockchain?

Distributed database

Imagine an electronic spreadsheet that is repeatedly copied to a computer network. Now, think that your computer network is so well designed that it regularly updates its spreadsheet on its own. This is a broad view of Blockchain. Blockchain stores information as a shared database. Moreover, this database is constantly being consolidated.

This approach has its benefits. It does not allow the database to be stored in a single location. The records in it have a real public attribute and can be easily verified. Because there is no centralized version of the records, unauthorized users have no means of manipulating and corrupting the data. The distributed blockchain database hosts millions of computers at a time, making data easily accessible on almost any virtual website.

To make the concept or technology clearer, it’s a good idea to discuss the Google Docs analogy.

Google Docs analogy in Blockchain

After email appears, the usual way to share documents is to send a Microsoft Word document as an attachment to the recipient or recipients. Recipients will take a sweet time to walk through it before sending a revised copy. In this approach, you have to wait until you receive a return copy to see the changes made to the document. This is because the sender is blocked from making corrections until the recipient has finished editing and resubmitting the document. Contemporary databases do not allow both owners to access the same record at the same time. This is how banks maintain the balances of their customers or account holders.

Compared to the established practice, Google doc allows both parties to access the same document at the same time. It also allows you to view only one version of the document at a time. Like a shared book, Google Docs also works as a shared document. The distributed part is important when sharing with multiple users. Blockchain technology is somehow an extension of this concept. However, it is important to note here that Blockchain has no intention of sharing documents. On the contrary, it is just an analogy that will help you to have a clear idea about this cutting-edge technology.

Notable features of the blockchain

Blockchain stores blocks of information on the network, all the same. As a result of this feature:

  • Data or information cannot be controlled by a single entity.
  • There can’t be a single point of failure.
  • The data is in the public network, which ensures complete transparency in the overall procedure.
  • The data stored there cannot be corrupted.

Application for blockchain developers

As mentioned earlier, Blockchain technology has a very large application in the world of finance and banking. According to the World Bank, in 2015 alone, $ 430 billion in remittances were sent through it. Thus, Blockchain developers have a high demand in the market.

Blockchain eliminates the fees of intermediaries in these monetary transactions. The GUI (Graphical User Interface) was invented to make it easier for ordinary people to access computers on desktops. Also, the wallet app is the most common GUI for Blockchain technology. Users take advantage of their wallet to buy things they want using Bitcoin or any other cryptocurrency.

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Is Blockchain technology really the future of the Internet?

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1. Killing Trusted Third Parties:

Blockchain changes, confusing and decentralized – records have the ability to make each concentrated procedure, action, and association completely independent. This means that we can overcome the trust of intermediaries, experts and third parties. Thus easing every business, administration and non-profit movement.

The flow and situation on home loans is the appearance of scenarios, title protection, and the amount of small exchange charges that are important to keep the framework running. These frameworks actually exist because the land exchange has been a procedure that requires a great deal of trust in dated records. In any case, the Blockchain would address these concerns, and the registration of a particular property may have an obvious and accepted history of exchanges, limiting the requirement for foundations to ease opportunities and put stock in administrations, rather than the exchange itself.

2. Blockchain 2018 – Bitcoin’s Past:

This delicate improvement in Bitcoin in 2017 was driven by this advanced money, the blockchain, the sustainable quality of the development used and the favorable conditions used. In 2017, blockchain will continue to become the second word of standard appearance and the advancement of dispersed records will continue to gain importance in several industries that have ended indirectly. The efforts of the blockchain will go beyond the imagery and IoT calculated in funding theory. Countries with official blockchain strategies, such as Malta, are expected to end up near markets.

3. Ensuring the secure Internet of the future:

One of the main advantages of the blockchain over other record schedules is that it depends on the cryptography and changes it, it is impossible to go back to a specific point in the blockchain and change the data. The blockchain has been hacked for 10 years, has never been hacked and will remain so until the technology lives on.

4. Blockchain for digital advertising:

Computerized advertising has difficulties, such as space extortion, bot movement, inaccuracy, and broad fragmentary patterns. The problem is that the impulses don’t adjust, making both promoters and distributors feel like they are on the losing side of the deal. Blockchain is the answer to giving fairness to the store network, as it transmits trust to a state of trust.

5. The impact of remittances on businesses:

We know so much about the payroll interval scheduled every fortnight or periodically that we give it in business and as employees. However, 2018 prints the year when this is an unsolicited standard. An exciting nature of blockchain innovation are the miniaturized parts of the scale. Another is strict contracts. These can be combined into wonderful routes, one of which is to pour money. Although it was predicted a few years earlier, it is happening as expected at this time

After all, blockchain is a great technology to use to store huge amounts of vital documentation in companies, such as human services, coordination, copyright, and more. Blockchain excludes an agent’s requirement to authorize contracts.

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Using blockchain technology companies for commercial finance

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One of the best industries for blockchain technology is trade finance. Many of the world’s largest banks are putting time into their research and development.

R3CEV, a consortium of 71 global financial leaders, has found much to learn about the potential uses of blockchain technology.

Since 2016, R3 has run several pilots in the market as a complement to their research. These strategies will continue to improve until they are ready to fully enter the market.

So what are some of the potential use findings? Here you have the future of trade finance with blockchain technology companies.

Monitor real-time status and status

One of the members of R3, CBA, is a leading contributor to blockchain technology research. Currently, 3 different projects are being carried out to study the use of the block chain.

They are conducting a test with exporters who ship cotton. A humidity monitor is placed inside the vessel, which is connected to IoT and GPS.

This monitor allows consumers to track real-time shipments. They are also able to assess the condition of the product while traveling.

Other national blockchain technology companies are conducting pilots, similar to this research. In Singapore, Hellosent is conducting similar tests. However, they are studying the import of French wine.

Delete unpaid settlements

The growing problem of grain farmers is the economic loss caused by trade failures. In 2014, approximately $ 50 million was lost as a result of this activity.

A farmer needs approximately 4-6 weeks to receive payment for his shipments. This often results in a dispute between farmers and buyers due to payment difficulties (non-payment of the corresponding amount, late payment, etc.).

The Australian start-up, Full Profile, has taken matters into its own hands.

Their blockchain platform allows farmers to receive automatic payment upon delivery of grain. This will significantly reduce the risk of conflict between farmers and buyers.

When the full profile app works fully in the home settings, they will be deployed in foreign trade.

Digitize

Using blockchain technology can also be beneficial in reducing economic loss and risk. After further development, it will be able to digitize sales and legal arrangements.

Trade financing is an unlikely industry that relies on settlements and contracts. Today, most of these agreements are formed in the old fashioned way: paper copies.

Blockchain technology will eliminate the need for this paper system. This ultimately reduces the risk of financial losses, as documents are often lost, mistreated, or soiled.

Electronic documentation can be tracked much more efficiently. It also reduces the need for a third-party verification system.

Interested in learning more about Blockchain technology companies?

Blockchain technology creates transparency in financial trading between buyers and sellers. From the moment the order is placed until the payment is made, the blockchain is able to facilitate the trading process.

Do you want to jump into the world of international trade? You are in the right place. It would be great to know your thoughts and comments.

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How is the Blockchain Technology Improving the World?

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Blockchain technology can help tremendously in banking, insurance, healthcare and the pharmaceutical industry, the multi-sector supply chain (agricultural business, luxury, international trade, distribution, wine, aeronautics and automobiles), the music industry, energy and real estate. Most of the centralized “trusted third parties” in the blockchain have the option of replacing banking systems, notaries, land registry, etc. with distributed computer systems.

1. Medicines / Pharmacy

Blockchain technology can be used to improve the integrity of drugs. By clearly identifying drugs and continuing from production to consumption, they can save a million lives a year. DHL is already working with Accenture to implement a track-and-trace serialization system based on blockchain technology.

“At the moment, there are already more than 7 billion pharmaceutical serial numbers in the system. In addition, the system can handle more than 1,500 transactions per second,” said Scott Allison, DHL’s health president.

Allison has not only the power of the system in mind. For example, serialization of tracking and monitoring should reduce costs, increase security and trust, and eliminate the movement of data with errors. Technology can add additional verified information to the item, which cannot be manipulated. Validation is done by all participants.

“THE SYSTEM DOES NOT MEET THE GLOBAL REQUIREMENTS OF SERIALIZATION, IT ALSO HAS THEM,” says Allison

2. Fashion / Fashion

The CGS project allows consumers to follow the entire life cycle of a garment. This brings together companies in the fashion, clothing and consumer goods sector to work together. With this solution, consumers no longer have to look ugly at the value of sustainability fashion. Blockchain technology allows you to track the durability and conformity of clothing

3. Cross-border payments

In developing and underdeveloped countries, access to capital for small food producers is often a major problem. Binkabi is a cross-border agricultural trading platform that is opening up new avenues with the help of a block bridge solution on Sweet Bridge. Thus, a commodity trading system will be developed.

IBM has just announced a blockchain banking solution. This will make international payments faster and more cost effective.

4. Food safety

In the area of ​​food safety, it is working with food manufacturers IBM Dole, Nestlé and Walmart. Thus, the data of growers, suppliers, processors, traders, sellers are available not only to all parties involved, but also to supervisory authorities and consumers. So all the transactions can be found and all the information about the food can be seen. To ensure that all members of the food system have access to the block chain, contaminated food can be quickly removed from the production and supply chain before reaching the shelf.

The Wildlife World Fund (WWF) “monitors” fish and seafood using blockchain technology. In this project, technology should help in the fight against illegal fishing. However, the full traceability of fish and seafood is of interest to large fish sellers as well as fish sellers, who want to prevent their products or brands from being associated with illegal activities.

“CONSUMERS ALSO CRYSTALLIZE FULL FISH AND VESSELS OTHER THAN FISH FILTER,” says Bubba Cook, WWF’s Director of the Western Midwest Pacific Tuna Program.

5. Humanitarian crises

Blockchain technology is not only used by companies. The United Nations currently uses blockchain technology in 16 areas, including:

· World Food Program (Refugee Assistance)

· Office for the Coordination of Human Affairs (control of donor financing, surveillance and supply chains)

In addition, he is currently researching how blockchain technology can be used to address current issues, such as child trafficking, according to Mahrinah von Schlegel, managing director of the nonprofit Embassy 2.0.

As part of the ID2020 public-private partnership, Microsoft and Accenture have announced a partnership. The goal is to give 1.1 billion people a legal form of identity and identification using blockchain technology.

6. Jewelry

In partnership with Everledger, the Brilliant Earth jewelry company wants to use blockchain technology to track the exact origin of diamonds and other gems. This ensures that only conflict-free stones are processed.

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The future of blockchain technology

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What is Blockchain?

The term blockchain has been used in many social and corporate conversations in recent years and it seems that everyone has heard about blockchain technology, but the majority of the population doesn’t really know what it means.

To clearly explain what blockchain technology really means, we can provide brief details about the history of the evolution of money transactions. Historically every time people exchanged valuable objects, the average goal was to record the authenticity of the two parties and build trust between them. These average men are now known as banks. The use of banks and brokers has continued over time and with the creation of digital assets, the need for a more secure method of shares, e-money and intellectual property has arisen. Digital assets are vulnerable to manipulation and theft because they are often files on a computer. Thus, the use of blockchain technology allows the parties to act in an open and transparent manner, ensuring that the exchange is safe and efficient.

The future of Bitcoin

Blockchain has the ability to completely disrupt the financial industry in the same way that social media disrupted major media or Netflix destroyed Blockbuster movies. Blockchain technology has the potential to be used as a platform that provides financial services to all over the world. This includes people in developing countries who may not have access to traditional banking services and may not be able to pay the fees required for large transactions. . This technology has the potential to make great strides in almost every major industry that large corporations tend to manipulate.

Use of Blockchain Technology in Education

Blockchain technology can be used in education to find out who students really need scholarships and who can afford it. This is because some students are avoiding the system and getting funding. In fact, it would almost be to the detriment of the poor students who are affected by the work.

In the end, a large number of the population may have their heads hidden in the sand because they want the chains of blocks to break away, but this part of the technology is nowhere to be found. In the near future we will all be negotiating the blockchain as part of our daily activities as our grandchildren will read about money and ATMs as we read about exchange trading and gold. That’s why it’s imperative to jump in as quickly as possible and adjust before you can necessarily adjust.

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